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PT Berau Coal Energy Jun 11
Standard & Poors, June 2011
Evolving regulatory framework in Indonesia Low reserve base and exposure to coal price volatility Mineral and customer concentration Low-cost profile and consistent production growth Long-term supply contracts and established relations with clients The rating on PT Berau Coal Energy (Berau Energy) reflects the company's exposure to Indonesia's evolving regulatory framework and coal price volatility. In addition, we believe the company has small coal reserves and is exposed to mineral and customer concentration risks. Berau Energy's low cost profile, long-term supply contracts, established relationships with clients, and consistent production growth temper these weaknesses. The evolving regulatory framework in Indonesia (BB+/Positive/B; ASEAN regional scale axBBB+/axA-2) relating to taxation, contract mining, and the environment can affect Berau Energy. The company's mines are regulated...
Companies mentioned in this report are: PT Berau Coal Energy
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
PT Berau Coal Energy